Mistakes could pay off

2016-08-03 06:00

TWO scholarships, worth R20 000, are on offer to students who have learnt hard financial lessons through their mistakes.

In the spirit of learning from your mistakes, financial services company DirectAxis is offering ­students two R20 000 scholarships if they own up to the biggest financial blunders they have made and, ­importantly, what these have taught them.

“We have all heard the stories about students who applied for loans to pay for their education and have used the money to trade on the JSE, buy a car or who have even just partied it away,” says Marlies Kappers, DirectAxis head of marketing.

“It is easy to write this off to young people being irresponsible, but it may be because they did not know any better or were not aware of the consequences.

She says the scholarships will do two things: give someone who has made a mistake and learnt from it another opportunity and provide some insight into some common financial slips which students make.

Many of the loan applications ­DirectAxis receive are done with the purpose of enabling applicants to improve their lives. These include loans for education.

“We hope the information we receive will enable us to help other students avoid making similar mistakes.

“This can be done by posting financial education pieces on our website and blog, providing tips on our social media platforms and through media campaigns.”

To be eligible for the scholarship, the applicant must be a current or prospective student at a registered tertiary institution.

To apply, the student needs to like and follow DirectAxis on Twitter, Google+ or LinkedIn, submit a 250-word biography and write an essay of between 1 200 and 1 500 words ­answering this question: “What is the biggest financial mistake you have ever made and what have you learnt from it?”

The essay should be submitted to scholarship@directaxis.co.za before 31 October. The two winners of the R20 000 scholarships will be announced on 10 December. The money will be paid directly to the tertiary institution the student is attending in 2017.

Applicants can visit www.directaxis.co.za/university-scholarship.aspx.

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